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Performance compared to peers and quality of demand 'really impressive'
◆ Spread set at starting level ◆ Floor in sight for agencies ◆ 'Success for Kommuninvest'
◆ Supra prices inside peers’ seven year deals ◆ Slim NIP paid after 3bp tightening ◆ ‘Very strong day’ for SSA market
◆ Sharp landing through a noisy open ◆ Grinding towards US Treasuries ◆ Bankers praise execution but warn of residuals building
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The Inter-American Development Bank sold a new long six year sterling benchmark on Thursday, but some SSA bankers wondered just how much investor interest it received after the leads posted no book updates.
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Asian Development Bank has become the second ever borrower to sell Armenian dram denominated paper.
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KommuneKredit took a careful approach to its first benchmark deal since losing its triple-A rating with S&P. It found a good reception after starting with a wider initial pricing level.
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Rentenbank and Inter-American Development Bank added to the sterling SSA supply, as bank treasury demand allows the market to gain momentum following the summer break.
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The European Stability Mechanism is set to follow the Federal State of Berlin in printing a bond at the long end of the curve, after sending out a request for proposals on Wednesday.
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BNP Paribas has replaced a member of its London-based SSA syndicate team with an internal appointment, GlobalCapital understands.